The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Computer, Electrical Electronic And Optical Products Manufacture Of Computer, Electronic And Optical Products 26.11 - Manufacture Of Electronic Components
380 jobs Number of planned job losses
Announcement Date
6 August 2024
Employment effect (start)
6 August 2024
Foreseen end date
6 August 2026
Description
Infineon Austria, located in Villach, plans to cut 380 jobs over the next two years as part of a cost-saving programme initiated by its German parent company.
Currently employing around 6,000 people in Austria, the company aims to avoid layoffs by relying on measures such as early retirement, natural attrition, and retirement schemes, coordinated with the works council. This decision follows weaker-than-expected revenue due to delayed deliveries and a broader economic slowdown affecting the technology sector.
Infineon's German parent company announced a broader plan to cut 1,400 jobs globally while shifting another 1,400 to countries with lower labour costs. Despite this, Infineon reported a revenue decrease, highlighting the sector's difficulties in 2024. The recent restructuring programme of Infineon in Germany can be found here Infineon-2024-DE. The current worldwide restructuring of Infineon can be found hereInfineon-2024-WO.
Eurofound (2024), Infineon, Internal restructuring in Austria, factsheet number 201485, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/201485.
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